TFC Financial Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), TFC Financial Management, Inc. reported 996 stock positions worth $780.5 million. Its top holding was iShares Core S&P 500 ETF (IVV) at 28.7% of the portfolio, followed by iShares Core MSCI Dev MKTS (IDEV, 14.3%) and iShares 1-3 Year Treasury Bo (SHY, 9.5%). Compared with Q2 2025, it opened 90 new positions, sold out of 66, added to 163 and reduced 124. The biggest buy was Apple (AAPL, shares +9%) and the biggest sale iShares Core MSCI Dev MKTS (IDEV, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001827844
- Portfolio Value
- $780.5M (Q3 2025)
- SEC Filing
- 0001398344-25-019713 ↗ filed Oct 24, 2025
Holdings Value
Holdings 996 stocks · $780.5M
| IVV iShares Core S&P 500 ETF | 28.70% | 334,694 | $224.0M | Reduce -0.0% |
| IDEV iShares Core MSCI Dev MKTS | 14.33% | 1,395,610 | $111.9M | Reduce -0.1% |
| SHY iShares 1-3 Year Treasury Bo | 9.54% | 897,682 | $74.5M | Add +1.7% |
| IEMG iShares Core MSCI Emerging | 6.53% | 773,326 | $51.0M | Add +0.3% |
| JQUA JPMorgan US Quality Factor | 5.80% | 719,666 | $45.3M | Add +2.2% |
| DFUV Dimensional US Marketwide Va | 5.33% | 931,429 | $41.6M | Reduce -1.0% |
| DFAT Dimensional US Target Value | 3.20% | 428,890 | $25.0M | Reduce -0.4% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.84% | 46,668 | $14.4M | Add +6.4% |
| AAPL Apple Inc. | 1.69% | 51,683 | $13.2M | Add +8.8% |
| NUEM Nuveen ESG Emerging Markets | 1.33% | 289,966 | $10.3M | Add +0.4% |
| JNJ Johnson & Johnson | 1.18% | 49,839 | $9.2M | Reduce -1.9% |
| MSFT Microsoft Corp. | 1.08% | 16,234 | $8.4M | Add +5.8% |
| BSV Vanguard Short-Term Bond ETF | 1.04% | 103,137 | $8.1M | Reduce -1.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.85% | 13,181 | $6.6M | Reduce -2.3% |
| XOM Exxon Mobil Corp. | 0.59% | 40,731 | $4.6M | Reduce -1.7% |
| NVDA Nvidia Corp. | 0.49% | 20,708 | $3.9M | Add +19.3% |
| BND Vanguard Total Bond Market | 0.49% | 51,460 | $3.8M | Reduce -0.6% |
| ITOT iShares Core S&P Total U.S. | 0.48% | 25,945 | $3.8M | Reduce -0.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 0.48% | 5 | $3.8M | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.47% | 12,975 | $3.7M | Add +8.0% |
| TSLA Tesla Inc. | 0.43% | 7,475 | $3.3M | Reduce -5.9% |
| MRK Merck & Co. Inc. | 0.40% | 37,383 | $3.1M | Add +0.1% |
| AMZN Amazon.com Inc. | 0.39% | 13,735 | $3.0M | Add +7.6% |
| ACN Accenture PLC Class A | 0.38% | 12,026 | $3.0M | Reduce -0.0% |
| IWB iShares Russell 1000 ETF | 0.36% | 7,764 | $2.8M | No change |
| JSTC Adasina Social Justice GLB | 0.32% | 124,708 | $2.5M | Add +2.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.32% | 9,828 | $2.5M | Reduce -0.7% |
| ONB Old National Bancorp | 0.31% | 110,400 | $2.4M | Reduce -28.0% |
| QUAL iShares MSCI USA Quality Fac | 0.30% | 11,923 | $2.3M | Reduce -0.1% |
| GE General Electric filed as GE AEROSPACE | 0.28% | 7,369 | $2.2M | Reduce -0.6% |
| GOOGL Alphabet Inc. Class A | 0.28% | 9,079 | $2.2M | Add +1.8% |
| JPM JPMorgan Chase & Co. | 0.28% | 6,922 | $2.2M | Add +4.5% |
| VXF Vanguard Extended Market ETF | 0.27% | 9,903 | $2.1M | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.25% | 2,883 | $1.9M | Add +6.4% |
| LHX L3HARRIS Technologies Inc. | 0.24% | 6,109 | $1.9M | No change |
| PWRD TCW Transform Systems ETF | 0.22% | 17,291 | $1.7M | No change |
| VOO Vanguard S&P 500 ETF | 0.20% | 2,579 | $1.6M | Add +2.3% |
| MA Mastercard Inc. Class A | 0.20% | 2,700 | $1.5M | Reduce -2.2% |
| IJR iShares Core S&P Small-Cap E | 0.19% | 12,805 | $1.5M | Reduce -2.4% |
| META Meta Platforms Inc. Class A | 0.19% | 2,057 | $1.5M | Add +4.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.19% | 16,573 | $1.4M | Reduce -2.4% |
| GOOG Alphabet Inc. Class C | 0.17% | 5,305 | $1.3M | Add +19.6% |
| EXPE Expedia Group Inc. | 0.16% | 5,907 | $1.3M | Reduce -8.7% |
| EFA iShares MSCI Eafe ETF | 0.16% | 13,344 | $1.2M | No change |
| PG The Procter & Gamble Co. | 0.16% | 8,069 | $1.2M | Add +2.6% |
| IWF iShares Russell 1000 Growth | 0.16% | 2,608 | $1.2M | Add +5.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.16% | 4,141 | $1.2M | Add +0.1% |
| SHOP Shopify Inc. Class A | 0.16% | 8,181 | $1.2M | No change |
| SUSA iShares ESG Optimized MSCI U | 0.15% | 8,690 | $1.2M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.15% | 3,533 | $1.2M | Add +25.9% |
| MMM 3M Co. | 0.14% | 7,125 | $1.1M | Reduce -4.2% |
| DDOG Datadog Inc. Class A | 0.14% | 7,551 | $1.1M | No change |
| GEV GE Vernova Inc. | 0.14% | 1,748 | $1.1M | Reduce -3.7% |
| DFAC Dimensional US Core Equity 2 | 0.13% | 26,078 | $1.0M | Add +0.2% |
| AMSC American Superconductor Corp. | 0.13% | 16,842 | $1.0M | Add +0.7% |
| WMT Walmart Inc. | 0.12% | 9,201 | $948K | Add +3.7% |
| ISTB iShares Core 1-5 Year Usd Bo | 0.12% | 19,350 | $945K | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.12% | 5,014 | $938K | Add +0.1% |
| ABBV Abbvie Inc. | 0.12% | 3,952 | $915K | Reduce -2.6% |
| NUDM Nuveen ESG Intl Devel MRK Eq | 0.12% | 24,240 | $912K | No change |
| ABT Abbott Laboratories | 0.11% | 6,547 | $877K | Reduce -13.6% |
| COST Costco Wholesale Corp. | 0.11% | 914 | $846K | Add +7.8% |
| HD Home Depot Inc. | 0.10% | 1,907 | $773K | Reduce -3.4% |
| AVGO Broadcom Inc. | 0.10% | 2,275 | $751K | Add +7.6% |
| TTD Trade Desk Inc./the Class A filed as THE TRADE DESK INC | 0.09% | 15,011 | $736K | No change |
| CVNA Carvana Co. | 0.09% | 1,904 | $718K | No change |
| MO Altria Group Inc. | 0.09% | 10,846 | $716K | Reduce -0.2% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.08% | 4,089 | $591K | Reduce -1.8% |
| ISRG Intuitive Surgical Inc. | 0.08% | 1,317 | $589K | No change |
| ADP Automatic Data Processing | 0.07% | 1,945 | $571K | Add +0.1% |
| PM Philip Morris International | 0.07% | 3,471 | $563K | Add +2.1% |
| GPC Genuine Parts Co. | 0.07% | 3,951 | $548K | Add +0.1% |
| IWR iShares Russell Mid-Cap ETF | 0.07% | 5,605 | $541K | No change |
| V Visa Inc. Class A | 0.07% | 1,511 | $516K | Add +0.1% |
| MDLZ Mondelez International Inc. Class A | 0.07% | 8,190 | $512K | Reduce -0.3% |
| DVY iShares Select Dividend ETF | 0.07% | 3,597 | $511K | Add +0.8% |
| CL Colgate-Palmolive Co. | 0.06% | 6,288 | $503K | Reduce -2.6% |
| CI The Cigna Group | 0.06% | 1,729 | $498K | No change |
| IQLT iShares MSCI International Q | 0.06% | 10,715 | $473K | Reduce -0.1% |
| GS Goldman Sachs Group Inc. | 0.06% | 583 | $464K | Add +0.3% |
| LLY Eli Lilly & Co. | 0.06% | 595 | $454K | Add +30.5% |
| FTEC Fidelity MSCI Info Tech Indx | 0.06% | 2,038 | $453K | No change |
| DHS Wisdomtree US High Dividend | 0.06% | 4,366 | $440K | Reduce -8.7% |
| BNL Broadstone Net Lease Inc. | 0.06% | 24,116 | $431K | No change |
| FFIN First Finl Bankshares Inc. | 0.05% | 12,194 | $410K | Reduce -11.2% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.05% | 3,430 | $393K | Add +0.1% |
| CVX Chevron Corp. | 0.05% | 2,507 | $389K | Add +2.2% |
| IGM iShares Expanded Tech Sector | 0.05% | 3,000 | $378K | No change |
| CTVA Corteva Inc. | 0.05% | 5,466 | $370K | No change |
| IJH iShares Core S&P Midcap ETF | 0.05% | 5,633 | $368K | Add +11.8% |
| KO The Coca-Cola Co. | 0.05% | 5,485 | $364K | Add +21.0% |
| IDV iShares International Select | 0.05% | 9,860 | $360K | No change |
| VWO Vanguard Ftse Emerging Marke | 0.04% | 6,315 | $342K | Reduce -7.3% |
| XLK SS Technology Select Sector | 0.04% | 1,207 | $340K | Add +0.1% |
| CRM Salesforce Inc. | 0.04% | 1,401 | $332K | Add +0.4% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.04% | 664 | $319K | No change |
| SYK Stryker Corp. | 0.04% | 851 | $315K | Add +4.9% |
| WM Waste Management Inc. | 0.04% | 1,409 | $311K | Reduce -2.4% |
| LOW Lowe's Cos Inc. | 0.04% | 1,202 | $302K | Reduce -7.9% |
| MCD McDonald's Corp. | 0.04% | 987 | $300K | Reduce -0.7% |
Portfolio Sells Q2 2025 → Q3 2025
| IDEV iShares Core MSCI Dev MKTS | Reduce -0.1% | 14.33% | −0.21 |
| ONB Old National Bancorp | Reduce -28.0% | 0.31% | −0.14 |
| DFUV Dimensional US Marketwide Va | Reduce -1.0% | 5.33% | −0.12 |
| ACN Accenture PLC Class A | Reduce -0.0% | 0.38% | −0.11 |
| BSV Vanguard Short-Term Bond ETF | Reduce -1.3% | 1.04% | −0.08 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -2.3% | 0.85% | −0.05 |
| BND Vanguard Total Bond Market | Reduce -0.6% | 0.49% | −0.03 |
| ABT Abbott Laboratories | Reduce -13.6% | 0.11% | −0.03 |
| VTWO Vanguard Russell 2000 ETF | Sold out | 0.00% | −0.03 |
| AGG iShares Core U.S. Aggregate | Reduce -98.1% | 0.00% | −0.03 |
| QUS SS SPDR MSCI U Stratfact ETF | Reduce -48.5% | 0.03% | −0.03 |
| XOM Exxon Mobil Corp. | Reduce -1.7% | 0.59% | −0.02 |
| IXUS iShares Core Intl Stock ETF | Reduce -94.0% | 0.00% | −0.02 |
| FUL H.B. Fuller Co. | Reduce -49.8% | 0.01% | −0.02 |
| CL Colgate-Palmolive Co. | Reduce -2.6% | 0.06% | −0.02 |
| MA Mastercard Inc. Class A | Reduce -2.2% | 0.20% | −0.02 |
| FFIN First Finl Bankshares Inc. | Reduce -11.2% | 0.05% | −0.02 |
| SDY SS SPDR S&P Dividend ETF | Reduce -67.5% | 0.01% | −0.01 |
| SUB iShares Short-Term National | Reduce -99.9% | 0.00% | −0.01 |
| MMM 3M Co. | Reduce -4.2% | 0.14% | −0.01 |
| SYY Sysco Corp. | Reduce -55.5% | 0.01% | −0.01 |
| VEA Vanguard Ftse Developed ETF | Reduce -35.8% | 0.02% | −0.01 |
| CARR Carrier Global Corp. | Reduce -3.4% | 0.03% | −0.01 |
| VEU Vanguard Ftse All-World Ex-U | Reduce -48.0% | 0.01% | −0.01 |
| RSP Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.01 |
| MDLZ Mondelez International Inc. Class A | Reduce -0.3% | 0.07% | −0.01 |
| JHMM John Hancock Multi Fact Mid | Sold out | 0.00% | −0.01 |
| CYBR Cyberark Software Ltd./Israel | Reduce -50.7% | 0.01% | −0.01 |
| PRGO Perrigo Co. PLC | Sold out | 0.00% | −0.01 |
| PFE Pfizer Inc. | Reduce -53.1% | 0.01% | −0.01 |
| IEFA iShares Core MSCI Eafe ETF | Reduce -2.4% | 0.19% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -54.4% | 0.01% | −0.01 |
| PEP Pepsico Inc. | Reduce -26.9% | 0.02% | −0.01 |
| GLD SPDR Gold Shares | Reduce -55.1% | 0.01% | −0.01 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.01 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -23.7% | 0.01% | −0.01 |
| NOW ServiceNow Inc. | Reduce -3.1% | 0.03% | −0.01 |
| DHS Wisdomtree US High Dividend | Reduce -8.7% | 0.06% | −0.01 |
| KKR KKR & Co. Inc. | Reduce -6.5% | 0.04% | −0.01 |
| APH Amphenol Corp. Class A | Reduce -31.1% | 0.03% | −0.01 |
| WAT Waters Corp. | Reduce -77.6% | 0.00% | −0.01 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.01 |
| FLOT iShares Floating Rate Bond E | Sold out | 0.00% | −0.01 |
| NXT Nextpower Inc. | Sold out | 0.00% | −0.01 |
| WM Waste Management Inc. | Reduce -2.4% | 0.04% | −0.01 |
| STT State Street Corp. | Reduce -22.5% | 0.02% | −0.00 |
| QFIN Qfin Holdings Inc.-ADR | Sold out | 0.00% | −0.00 |
| TXN Texas Instruments Inc. | Reduce -82.2% | 0.00% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -84.0% | 0.00% | −0.00 |
| TMUS T-Mobile US Inc. | Reduce -4.6% | 0.04% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +8.8% | 1.69% | +0.35 |
| IEMG iShares Core MSCI Emerging | Add +0.3% | 6.53% | +0.19 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +6.4% | 1.84% | +0.13 |
| NVDA Nvidia Corp. | Add +19.3% | 0.49% | +0.12 |
| GOOGL Alphabet Inc. Class A | Add +1.8% | 0.28% | +0.07 |
| GOOG Alphabet Inc. Class C | Add +19.6% | 0.17% | +0.06 |
| AMSC American Superconductor Corp. | Add +0.7% | 0.13% | +0.04 |
| MSFT Microsoft Corp. | Add +5.8% | 1.08% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +25.9% | 0.15% | +0.03 |
| RSPT Invesco S&P 500 Equal Weight | New | 0.03% | +0.03 |
| AXON Axon Enterprise Inc. | Add +8666.7% | 0.02% | +0.02 |
| IYW iShares Ustechnology ETF | New | 0.02% | +0.02 |
| JPM JPMorgan Chase & Co. | Add +4.5% | 0.28% | +0.02 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +6.4% | 0.25% | +0.02 |
| AVGO Broadcom Inc. | Add +7.6% | 0.10% | +0.02 |
| GVI iShares Intermediate Governm | Add +1518.9% | 0.02% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +59.7% | 0.04% | +0.01 |
| WFC Wells Fargo & Co. | Add +1303.2% | 0.01% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +5.4% | 0.16% | +0.01 |
| NUEM Nuveen ESG Emerging Markets | Add +0.4% | 1.33% | +0.01 |
| BX Blackstone Inc. | Add +238.1% | 0.02% | +0.01 |
| CRWD CrowdStrike Holdings Inc. Class A | Add +432.4% | 0.01% | +0.01 |
| LLY Eli Lilly & Co. | Add +30.5% | 0.06% | +0.01 |
| APP AppLovin Corp. Class A | Add +51.5% | 0.01% | +0.01 |
| JQUA JPMorgan US Quality Factor | Add +2.2% | 5.80% | +0.01 |
| COKE Coca-Cola Consolidated Inc. | New | 0.01% | +0.01 |
| AMLP Alerian MLP ETF | New | 0.01% | +0.01 |
| SN Sharkninja Inc. | New | 0.01% | +0.01 |
| HAS Hasbro Inc. | Add +2042.9% | 0.01% | +0.01 |
| HYT BlackRock Corp. Hi YLD | New | 0.01% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +2.3% | 0.20% | +0.01 |
| GLOF iShares Global Equity Factor | New | 0.01% | +0.01 |
| ISHG iShares -3 Year Internationa | New | 0.01% | +0.01 |
| VZ Verizon Communications Inc. | Add +70.1% | 0.02% | +0.01 |
| SPYV SS SPDR P S&P 500 Value ETF | New | 0.01% | +0.01 |
| VIK Viking Holdings Ltd. | New | 0.01% | +0.01 |
| XLF SS Financial Select Sector | New | 0.01% | +0.01 |
| HTFL Heartflow Inc. | New | 0.01% | +0.01 |
| TOST Toast Inc. Class A | Add +276.7% | 0.01% | +0.01 |
| INTC Intel Corp. | Add +3.1% | 0.02% | +0.00 |
| DUK Duke Energy Corp. | Add +85.0% | 0.01% | +0.00 |
| GPC Genuine Parts Co. | Add +0.1% | 0.07% | +0.00 |
| PFF iShares Preferred & Income S | New | 0.00% | +0.00 |
| XCHYX Calamos Convert & High Inc. | New | 0.00% | +0.00 |
| IJH iShares Core S&P Midcap ETF | Add +11.8% | 0.05% | +0.00 |
| VXF Vanguard Extended Market ETF | Add +0.1% | 0.27% | +0.00 |
| IAGG iShares Intl Aggregate Bond | New | 0.00% | +0.00 |
| MIDD Middleby Corp. | Add +23000.0% | 0.00% | +0.00 |
| RTX RTX Corp. | Add +3.8% | 0.04% | +0.00 |
| SHLD Global X Defense Tech ETF | New | 0.00% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 1,033 | $902.3M | IVV, IDEV, SHY, IEMG, JQUA |
| Q1 2026 | 997 | $811.6M | IVV, IDEV, SHY, IEMG, JQUA |
| Q4 2025 | 962 | $797.3M | IVV, IDEV, SHY, IEMG, JQUA |
| Q3 2025 | 996 | $780.5M | IVV, IDEV, SHY, IEMG, JQUA |
| Q2 2025 | 972 | $730.0M | IVV, IDEV, SHY, IEMG, JQUA |
| Q1 2025 | 958 | $653.2M | IVV, IDEV, SHY, IEMG, DFUV |
| Q4 2024 | 978 | $632.3M | IVV, IDEV, SHY, DFUV, JQUA |
| Q3 2024 | 1,003 | $632.2M | IVV, IDEV, SHY, DFUV, JQUA |
| Q2 2024 | 968 | $570.1M | IVV, IDEV, DFUV, JQUA, DFAT |
| Q1 2024 | 904 | $562.9M | IVV, IDEV, DFUV, JQUA, DFAT |